HomeInfraCain’s lending platform makes Spanish debut with Vita’s PBSA scheme

Cain’s lending platform makes Spanish debut with Vita’s PBSA scheme


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Investment firm Cain International has expanded its lending platform into Spain by providing a €74m loan for Vita Group’s purpose-built student accommodation (PBSA) scheme in Madrid.

Cain has issued its debut Spanish construction loan to Vita Group and Metrovacesca for the development of Vita’s 585-bed scheme within the wider Oria Campus, which is being delivered by Metrovacesca.

The project is expected to be delivered ahead of the 2026/2027 academic year.

The transaction also strengthens Cain’s partnership with Vita which has involved Cain providing around £400m (€467.7m) in construction financing to Vita since 2020 to support its PBSA strategy across UK university cities including Manchester, Warwick, and Coventry.

Graham Keable, managing director at Cain International, said: “Madrid’s student sector demonstrates favourable long-term fundamentals, and this transaction represented a unique opportunity to expand Cain’s lending platform to a new market with a longstanding and reputable partner.

“We have worked closely with the Vita team across multiple PBSA opportunities in the UK and are confident its high-quality product will be an attractive offering in one of Europe’s top student destinations.”

Michael Slater, Vita Group’s CFO, said: “Closing this financing agreement with Cain marks a significant milestone for our flagship Madrid scheme. We look forward to working alongside Cain and our partners at Metrovacesca SA to deliver one of Madrid’s most dynamic student communities.”

To read the latest IPE Real Assets magazine click here.

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